Entrepreneurship Worksheet: Income and Expenses Record

Entrepreneurship lesson 14: Simple record keeping · Set 18 · 40 questions

Business tip (Money in, money out): Income = money coming in; expense = money going out. Keep every bill or receipt. Profit = total income − total expenses. If expenses are more, loss = expenses − income. Update the record the same day, before you forget.

1. 1.Diya’s stall took in ₹310 on Friday, ₹280 on Saturday and ₹240 on Sunday. What was the total income (in ₹)?
2. 2.Which of these is income (money in)? (a) paying the stall fee (b) money from sales (c) printing posters (d) buying lemons
3. 3.📅 When is the best time to update your records? (a) the same day (b) never (c) whenever you like (d) once a year
4. 4.Dev’s income was ₹190 and the profit was ₹60. One expense was ₹80 (stall fee). How much was the other expense, for transport (in ₹)?
5. 5.Aarav’s income was ₹310 and the profit was ₹280. One expense was ₹20 (card paper). How much was the other expense, for ribbon (in ₹)?
6. 6.Ananya’s record for a rainy day:
   Income: ₹240 (sales)
   Expense: ₹100 (paper cups)
   Expense: ₹170 (lemons)
   How much is the loss (in ₹)?
7. 7.📒 Income or expense: paying the stall fee? (a) income (b) expense
8. 8.Joseph’s record for a rainy day:
   Income: ₹70 (sales)
   Expense: ₹50 (stall fee)
   Expense: ₹30 (card paper)
   How much is the loss (in ₹)?
9. 9.True or false: “a card order paid” is an expense (money out). (a) False (b) True
10. 10.Which of these is an expense (money out)? (a) a card order paid (b) buying lemons (c) payment for a cake order (d) tutoring fees received
11. 11.📒 Why write down every sale and cost? (a) to look busy (b) no reason (c) to know the real profit (d) to fill a notebook
12. 12.Kavya’s record for the day:
    Income: ₹440 (morning sales)
    Income: ₹80 (evening sales)
    Expense: ₹200 (paper cups)
    Expense: ₹60 (sugar)
    What is the profit (in ₹)?
13. 13.Dev’s record for a rainy day:
    Income: ₹50 (sales)
    Expense: ₹30 (lemons)
    Expense: ₹100 (posters)
    How much is the loss (in ₹)?
14. 14.📒 Income or expense: tutoring fees received? (a) expense (b) income
15. 15.🧾 What should you keep after buying supplies? (a) a selfie (b) nothing (c) the bill or receipt (d) only the bag
16. 16.Kavya’s record for the day:
    Income: ₹290 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹180 (sugar)
    Expense: ₹150 (lemons)
    What is the profit (in ₹)?
17. 17.Joseph’s record for the day:
    Income: ₹350 (morning sales)
    Income: ₹180 (evening sales)
    Expense: ₹200 (stall fee)
    Expense: ₹110 (transport)
    What is the profit (in ₹)?
18. 18.Which of these is an expense (money out)? (a) money from sales (b) tutoring fees received (c) a card order paid (d) bus fare to the market
19. 19.📒 Income or expense: a card order paid? (a) income (b) expense
20. 20.Which of these is income (money in)? (a) buying lemons (b) payment for a cake order (c) paying the stall fee (d) buying paper cups
21. 21.Ishaan’s record for the day:
    Income: ₹70 (morning sales)
    Income: ₹220 (evening sales)
    Expense: ₹50 (card paper)
    Expense: ₹60 (paper cups)
    What is the profit (in ₹)?
22. 22.Diya’s record for the day:
    Income: ₹190 (morning sales)
    Income: ₹290 (evening sales)
    Expense: ₹120 (ribbon)
    Expense: ₹80 (card paper)
    What is the profit (in ₹)?
23. 23.Zoya’s income was ₹310 and the profit was ₹40. One expense was ₹30 (paper cups). How much was the other expense, for ribbon (in ₹)?
24. 24.True or false: “paying the stall fee” is an expense (money out). (a) False (b) True
25. 25.Nisha’s stall took in ₹150 on Friday, ₹120 on Saturday and ₹290 on Sunday. What was the total income (in ₹)?
26. 26.📒 Income or expense: buying lemons? (a) income (b) expense
27. 27.Joseph’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹150 (evening sales)
    Expense: ₹80 (card paper)
    Expense: ₹160 (posters)
    What is the profit (in ₹)?
28. 28.Gurpreet’s income was ₹410 and the profit was ₹130. One expense was ₹140 (ribbon). How much was the other expense, for paper cups (in ₹)?
29. 29.Rohan’s income was ₹470 and the profit was ₹30. One expense was ₹70 (posters). How much was the other expense, for transport (in ₹)?
30. 30.Gurpreet’s record for the day:
    Income: ₹360 (morning sales)
    Income: ₹90 (evening sales)
    Expense: ₹140 (lemons)
    Expense: ₹170 (sugar)
    What is the profit (in ₹)?
31. 31.Dev’s record for the day:
    Income: ₹10 (morning sales)
    Income: ₹490 (evening sales)
    Expense: ₹80 (paper cups)
    Expense: ₹200 (transport)
    What is the profit (in ₹)?
32. 32.📒 Income or expense: cash from selling plants? (a) income (b) expense
33. 33.Rohan’s record for the day:
    Income: ₹170 (morning sales)
    Income: ₹250 (evening sales)
    Expense: ₹130 (posters)
    Expense: ₹190 (card paper)
    What is the profit (in ₹)?
34. 34.Ananya’s record for a rainy day:
    Income: ₹230 (sales)
    Expense: ₹90 (stall fee)
    Expense: ₹240 (card paper)
    How much is the loss (in ₹)?
35. 35.Joseph’s stall took in ₹330 on Friday, ₹150 on Saturday and ₹120 on Sunday. What was the total income (in ₹)?
36. 36.Farhan’s stall took in ₹80 on Friday, ₹100 on Saturday and ₹80 on Sunday. What was the total income (in ₹)?
37. 37.Which of these is income (money in)? (a) buying paper cups (b) bus fare to the market (c) cash from selling plants (d) paying the stall fee
38. 38.Which of these is income (money in)? (a) paying the stall fee (b) buying paper cups (c) buying lemons (d) tutoring fees received
39. 39.📒 Income or expense: bus fare to the market? (a) income (b) expense
40. 40.True or false: “buying paper cups” is an expense (money out). (a) False (b) True

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